The article begins with an exploration of the recent initiatives taken to uplift start-ups in India. A crucial turn in this direction is the agreement signed between Council of Scientific and Industrial Research (CSIR) and iCreate, an autonomous centre of excellence of the Gujarat government. This partnership aims to support and encourage tech start-ups through combined resources.
Understanding the Key Players: CSIR and iCreate
CSIR is a leading R&D organization in India, boasting a comprehensive network of 37 national laboratories, 39 outreach centres, one Innovation Complex, and three units. With a patent portfolio comprising over 8000 Indian patents and around the same number of foreign patents, CSIR covers a vast range of scientific fields from oceanography and biotechnology to mining and information technology.
On the other hand, iCreate stands as India’s largest institution dedicated to transforming tech-based start-ups into viable businesses. It is supported by the Gujarat government and operates as an autonomous centre of excellence.
What Does The Agreement Entail?
The memorandum of understanding (MoU) signed between CSIR and iCreate proposes to establish a support system for promising tech start-ups by offering combined resources to innovators and entrepreneurs in India. Notably, this initiative aims to catalyse the marketability of high-tech start-ups in sectors like fintech, neobanks, and e-commerce. Furthermore, iCreate will assist in setting up new incubators at specific CSIR labs, allowing start-ups access to CSIR’s equipment, facilities, and scientific personnel.
How Will This Benefit Start-ups?
Under this initiative, CSIR will provide intellectual property support and explore ways to financially aid Indian start-ups. By leveraging its deep industry connections, iCreate can identify real needs that can be addressed through scientific innovations by CSIR scientists, thus speeding up the commercialisation process.
The State of Start-ups in India
India, with over 15,000 start-ups established in 2020, ranks as the third-largest start-up ecosystem globally. This growth is attributed to increased smartphone and internet penetration, advancements in cloud computing, application programming interfaces (APIs), and the presence of a national payments stack. Additionally, despite the Covid-19 pandemic, India has recorded more Unicorn startups in 2021 than in the previous decade. This growth, however, is not without challenges such as scaling Indian start-ups, diversity and the digital divide, and a complex regulatory environment.
Other Government Initiatives for Start-ups
Several other initiatives are being undertaken by the Indian government to strengthen the start-up ecosystem. This includes the implementation of a rankings system for States based on their support for start-ups, launching the first-ever Shanghai Cooperation Organisation (SCO) Startup Forum, the ‘Prarambh’ Summit to encourage innovation and invention, the Startup India Seed Fund Scheme for financial assistance to start-ups at various stages of their journey, and the Fisheries Startup Grand Challenge aimed at innovating in the fisheries sector.